Report Code: A13809 | Pages: NA | Mar 2023 | 1422 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Solar Water Pump Systems Market
Request Now !The global solar water pump system market is increasing due to usage of renewable sources of energy. Majorly used is solar energy in developing countries like India where the infrastructure is growing. Solar water pump system is made of solar panel, a motor connected to PV. The solar panels provide the electricity to the motor to pump the water widely used in agriculture industry for the purpose of irrigation. And its usage has been increasing because of it reduces the electricity bills of the farmers. The government is also encouraging the use of solar water pumps to reduce the power usage from agricultural industry and it is clean and safe helps in carbon reduction. But the problem is with its installation cost which is quiet high for farmers which is an obstacle in growth of the market.
COVID-19 Impact analysis
Top Impacting Factors
The surge for alternative sources of energy to reduce the dependency on fossil fuels. With the increasing demand for electricity the green sources of energy market has gained growth which is supported by the government and is major opportunity for the investors as emerging sector. Government has been giving relief on taxes and providing incentives on the uses if solar pumps and installing solar panels into houses. With the increase in industrialization and urbanization the water usage has increased driving the solar water pump plant market. Solar power is affordable and available everywhere without affecting the environment. They are designed specially to utilize DC current usage like for household purpose, for irrigation, fountains, pools, ponds and others. The problem is high cost of installation for solar panels and pumps, which are bit expensive for farmers who hardly cover up their irrigation and farming expenses will slow down the growth of the market.
Market Trends
Key Benefits of the Report
Solar Water Pump Systems Market Report Highlights
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Key Market Players | Bright Solar Limited, C. R. I Pumps Pvt Ltd, Grundfos, Lorentz, Shakti Pumps Ltd, Solar Power & Pump Company LLC, SunEdison Inc., American West Windmill and Solar Company, Tata Power Solar Systems Ltd, Wenling Jintai Pump Factory Limited. |
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